KLSE: BPPLAS (5100)       BP PLASTICS HOLDING BHD MAIN : Industrial Products
Last Price Today's Change   Day's Range   Trading Volume
1.85   -0.10 (5.13%)  1.85 - 1.95  1,310,200
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bfmtechnology BPplas is a cash rich company. Consistent in dividen payout.
View my 2 cents via link below
02/06/2021 1:33 PM
JayC88 finally rakuten recommendation...
17/06/2021 8:54 AM
Brutus @bfmtechnology, great write up! To me BPPLAS is a prime example of value investing.
I intend to hold their stocks long term and buy more when share price dips.
17/06/2021 9:17 AM
Abilakh Can share Rakuten report?
17/06/2021 9:48 AM
Patrick13 BP Plastics Holding Bhd (Fundamental BUY with TP 2.28)
• We are sanguine on the prospect of BP Plastics Holding Bhd (BPPLAS) as a prominent Polyethylene (PE) film player and see demand to pick up from the resumption of global and regional trade activities from 2H2021 amid on-going capacity expansion.
• The stretch film maker is currently trading at undemanding valuation of FY22 PER 8x further supported by projected attractive dividend yield of 5.8%. Solid balance sheet with zero borrowings. BUY with target price of RM2.28 based on 11.5x FY22 PER as per the 5-year average valuation.
• BBPLAS is now one of the largest PE film makers in Asia, supplying cast stretch film and industrial packaging films and bags to over 54 countries. About 76% of the sales are export driven supplying to countries across Asia, Middle East, Europe and North American region. We expect the order for stretch films and industrial bags to pick up due to anticipated global trade recovery in 2H2021 of which the company is currently experiencing especially from Japan.
• BPPLAS has a combined production capacity of 8,500 MT/month and to deploy new 9th cast stretch film machine (to be commissioned by end FY21) from most of the capex spending of RM35.6m. 75% of the sales are derived from stretch films and 25% are from blown PE films. Presently, approximately 40% of the stretch film are premium products (thin gauge film), commanding 20% - 30% higher selling price than the conventional films.
• We expect the proportion of premium film to conventional film to increase with the new cast stretch film line in place. For blown film division, due to highly customized specification to fit for different industrial purposes, it garners higher margin though volume is lower when compared to stretch film.
• The plastics packaging industry in Malaysia has over the years undergone consolidation. In effect, the elimination of competition has enabled BPPLAS and other industry player like TGUAN to gain access to new clients where previously was not possible, which is an added advantage.
• BPPLAS average dividend payout ratio is attractive at 58.3% over the past 5 years, translating to a projected yield of 5.8%. Its zero borrowings and cash position of RM76.1m would comfortably fund future CAPEX requirements.
• All in, we forecast EPS growth of 13% for FY21 and 11% for FY22 respectively. BPPLAS is an attractive value proposition given its undemanding valuation and decent dividend yield.
BP Plastics Holding Bhd
(BPPLAS, 5100)
17/06/2021 10:26 AM
Brutus Wow, even with a conservative PER 11.5, TP already 2.28!
17/06/2021 3:22 PM
pulsemelx1805 undervalue!!
17/06/2021 3:23 PM
tradesafely eps almost same with TGUAN, but share price still has 50% to catch up
18/06/2021 12:49 PM
pulsemelx1805 i would say rm1.5 is currently a psychological resistance turned support. If it breaks below again, the actual crucial support would be RM1.3, which is very near only.
21/06/2021 2:35 PM
wallstreetrookie Monday's recovery trade ended Dow Jones's five consecutive days of losses
22/06/2021 5:03 AM
pulsemelx1805 donno when i can get my capital back ... gg
22/06/2021 5:07 PM
JayC88 wow why the sudden surge
23/06/2021 8:08 PM
Brutus With only 1 more week to close June, maybe already have accumulation in anticipation of Q2 strong QR? Another special dividend coming up?
23/06/2021 8:48 PM
Lyo82 Look at SLP, they are trading at premium price when their fundamental is not much better than BPPLAS. Catching up is just a matter of time.
24/06/2021 10:33 AM
theavenger privatization 2.00
24/06/2021 11:01 AM
JayC88 compare it to any of its peers also it is still cheaper. good div too.
24/06/2021 11:08 AM
Lyo82 In terms of market capital and business volume, its closest peer is SLP
24/06/2021 11:46 AM
pulsemelx1805 yeah , i bought this counter also because of its div
28/06/2021 11:18 AM
Sardin Resin price rise very steeply since March this year. Have to be careful.
02/07/2021 3:53 PM
cherry88 https://klse.i3investor.com/blogs/kenangaresearch/2021-07-05-story-h1567828894-Plastics_Packaging_Resilient_Momentum.jsp
05/07/2021 8:16 PM
cherry88 ASPs to decline in 2HCY21.As resin prices continue to decline, we expect ASPs to gradually follow suit from current levels. It’s important to note that not all selling prices will decline by the same quantum. Generally, more commoditized products will experience faster declines compared to the non-commoditized products. As noncommoditized products tend to be customised for client-specific needs, selling prices tend to be stickier and would not fall as much, allowing plastic packagers to protect their margins. As we expect ASPs to gradually fall in 3QCY21 as they catch up with lower resin prices, we foresee a period of continued margin expansion followed by margin normalisation after ASPs fall in tandem.
05/07/2021 8:16 PM
awesome20 tomorrow skyrocket
05/07/2021 8:18 PM
awesome20 waiting for rocketing
07/07/2021 7:19 PM
Sardin Why sudden drop?
08/07/2021 3:48 PM
cherry88 Target to hit RM2.50 by Kenanga !
12/07/2021 11:15 AM
limontea Good closing :)
12/07/2021 4:55 PM
Godblessyou Nice closing! Road to 2.50... yeeeehaaaa
12/07/2021 5:36 PM
param1 UP UP
12/07/2021 6:12 PM
Brutus Exciting! Looking forward to BPPLAS FY21Q2 QR! Hopefully another bumper dividend coming!
12/07/2021 6:58 PM
awesome20 rocket launched
12/07/2021 7:58 PM
Sardin I think someone has been waiting for Kenanga's report to sell :))
13/07/2021 9:51 AM
limontea Always when IB say up, the next day sure down.
13/07/2021 10:02 AM
Lyo82 At least now BPPLAS is noticeable by fund house, rerating is on the card. Just hold your seat firmly and enjoy the ride.
13/07/2021 10:11 AM
limontea Look at the tremendous sell Q.
13/07/2021 10:22 AM
limontea Sell Q @ 1.900 during the opening
and Sell Q @ 1.940 now.
13/07/2021 10:25 AM
limontea Looks like yesterday pump already today dump
13/07/2021 10:26 AM
cherry88 Referring to my earlier comment dated 27/5, the EPS for FY2021 should be around 20sen (Kenanga estimate at 19.2 sen). Even with current MCO (I actually dont know how to name the current lock-down status), BPPLAS still allow to operate at 60% capacity. Therefore, negative profit impact is minimal whereby it is contra off with better margin in 2Q and 3Q in FY2021. Its past 10-years PE was ranging from 7-16x. So, Let's take average of 12x (which is closed to Kenanga's PE of 13x), my own TP would be RM2.40 with current yield of 5.4% (assume price of RM1.85 with dividend per share of 10sen). Still not really expensive at current level, if you guys are patient enough to wait for the pandemic crisis to be over. Hope this comment help you guys to make some informed decision.
13/07/2021 10:32 AM
CHONG Kong Hui @cherry88 good sharing

Good company can buy and hold.
Those want to gamble or speculate, look for Most Active counter to trade. Not BPPLAS
13/07/2021 10:50 AM
Sardin Hi Cherry88, I'm not sure if the margin in Q2 is expanding as resin price increases sharply in Q2 compares to Q1.
13/07/2021 11:01 AM
limontea The price is already ATH. Did not expect more.
Current huge block @ 1.840.
Probably will retrace for a few days before picking up again. Unless they want to pump dump.
13/07/2021 11:10 AM
cherry88 @Sardin, Management has indicated to increase its ASP to off-set the material cost increases. With its recent drop (or stabilize) in its material prices, ASP remains at high. Management indicates that a "SUDDEN" increase or decrease in material cost is actually favorable to its margin. Any SUDDEN increase in cost allow them to increase ASP easily but not otherwise. However, a GRADUAL increase or decrease in cost may not favor its margin as it is difficult to pass the cost over to customers.
13/07/2021 11:11 AM
limontea @cherry88, thx for the sharing.
13/07/2021 11:55 AM
limontea Very red today.
Retracement 1: 1.820
Retracement 2: 1.730
Retracement 3: 1.660

Let's observe tomorrow the price correction.
13/07/2021 5:04 PM
limontea As per Fibonacci Retracement.
13/07/2021 5:07 PM
wallstreetrookie Good profit. Sold
14/07/2021 2:59 PM
wallstreetrookie 15% gains in a few weeks. Thanks to a Facebook guru for pumping up this stock. Personally don't trust Kenanga's price target. Too much risk for me
14/07/2021 3:08 PM
pulsemelx1805 siapa facebook guru tu , i want to join his class
18/07/2021 2:19 PM
Thkent91 Will continue to grow. any dip in price (probably due to closure of plant, increasing of shipping cost) is a chance to accumulate
24/07/2021 12:30 PM
Aaron_tan Friday show distribution start
24/07/2021 10:07 PM
Aaron_tan queue to buy 1.0
26/07/2021 12:40 PM

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